Offshore Banking Services

Depending on the size of the bank, it might offer additional services

. It is normal for offshore banks to charge money for use of their services, but you can often find their fees very competitive, compared to what banks in your own country charge for the same service! The price of using the services varies a lot from one bank to the other. Most of the services are accessed through the Internet, since offshore banks are situated far from their customers. An offshore bank will typically have an advanced and very secure website where you can handle your accounts, access services and communicate with the bank.

Although offshore banks offer a high degree of privacy, there is a tendency for offshore banks to open up towards the authorities. This opening is claimed to be caused by recent terrorist attacks which have made the international society interested in any relations between offshore banking and terrorist funds. But it is truly a matter of governments world-wide trying to control their citizens, also Internationally, to ensure tax compliance, and to avoid US embargos.

This basically means that you cannot expect to have any privacy. All banks, world-wide, are forced by their own government (often because of International pressure) to allow government access to all information they have on file about their clients.

All offshore banks will of course let you deposit and withdraw money. Offshore banks normally also issue credit cards or debit cards to help you do so. A credit card or debit card from an offshore bank works just like any other credit or debit card. It can generally be used in ATMs around the world, and it can be used for purchases, directly with a merchant that is set up for receiving payment this way.

Fund and investment management means that the bank is managing securities (stocks, bonds, etc.) for the bank customers. This is also known as portfolio management or money management. There are certain components of offshore banking that you may not have thought of, or perhaps you just need a simple explanation of what they are. Here are the basics you need to know to get started.

Youve probably heard about people who keep their money offshore. Most likely you assume theyre all wealthy businessmen; millionaires, who have so much money they somehow qualify to move it out of the country, right? Wrong! Offshore banking can be a benefit for anybody regardless of income.

What can be accessed by government can also be accessed by criminals. This means that disclosing to your bank who you are and what you do also means that anyone else can get that information.

This makes it necessarily for you to go other ways, if you want to protect your privacy and you do, if you want to claim your fundamental human rights, as granted by all member Nations of the UN!!!

by: tilakraj

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